Here’s a stock you can pass on

Article Excerpt

The plunge for many tech investments since the start of this year has hit both high-growth stocks with strong prospects as well as others with weaker outlooks. That makes it all the more important to remain wary of companies whose prospects seem unlikely to match broker/media expectations. Here’s an example of a stock to stay away from: 23ANDME HOLDING, $2.92, (Nasdaq symbol ME; TSINetwork Rating: Speculative) (www.23andme.com; Shares o/s: 259.8 million; Market cap: $1.4 billion; No dividend) provides consumers with genetics testing. It has created one of the world’s largest platforms for genetic research; moreover, 80% of its customers have agreed to have their genetic profiles available on the platform. The stock began trading on Nasdaq in June 2021 at $10. 23andMe keeps looking for new growth opportunities. In November 2021, it bought Lemonaid Health, a provider of telemedicine and prescription-drug delivery services. 23andMe also aims to use its vast database for research and drug development. Still, the company’s future success will depend on renewed growth in the…

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